The European Investment Bank (EIB) has signed a €225 million financing agreement with Iren Group to support the company’s 2025-2028 investment plan aimed at promoting circular economy practices and energy efficiency in Italy. The funding will back projects to modernize waste management systems and improve the energy performance of public and private buildings, with a focus on social care facilities and nonprofit-managed structures. The agreement was signed in Milan by EIB Vice-President Gelsomina Vigliotti and Iren Executive President Luca Dal Fabbro.
The financing will support municipal waste management initiatives, including the purchase of new bins, collection vehicles, recycling centers, and infrastructure for pay-as-you-throw systems, which encourage households to reduce waste and improve sorting. Energy efficiency measures are also included, targeting reductions in building energy consumption and the adoption of renewable energy solutions. EIB estimates that the programme will save approximately 6,800 MWh of primary energy annually and generate about 1,400 MWh of electricity from renewable sources, equivalent to the yearly needs of around 550 Italian households. Circular economy measures are expected to reduce waste generation by roughly 50,000 tonnes per year and expand waste sorting for recycling or biomethane production by around 220,000 tonnes annually.
Investments will primarily take place in north-western Italy, including Piedmont, Emilia-Romagna, and Liguria, with additional initiatives in Tuscany and other regions. Implementation will be carried out through Iren Group companies, particularly Iren Ambiente and Iren Smart Solutions. The project aligns with Iren’s strategic 2040 transition plan and contributes to its long-term goals in green transition, local development, and service quality.
EIB Vice-President Vigliotti highlighted that the financing supports sustainable development by cutting emissions, promoting energy efficiency, and strengthening circular economy initiatives. Iren’s Executive President Dal Fabbro emphasized that the agreement builds on the group’s longstanding partnership with EIB, which has helped increase Iren’s share of green financing instruments to over 80%, supporting high-impact local projects.
The operation also underscores EIB’s broader role in Italy as a leading public financier of utilities, helping companies modernize infrastructure, improve access to drinking water, reduce hydrogeological risk, and promote sustainable resource management. In 2025, EIB provided €837 million in financing to Italian utilities, supporting investments across energy, water, and environmental sectors.
Iren is a leading multiutility in north-western Italy, operating in electricity, gas, thermal energy, energy efficiency, and water management. The group focuses on sustainable growth for communities and public institutions, with a ten-year strategic plan approved in 2021 and updated in 2025, totaling €6.4 billion in investments by 2030. The plan emphasizes green transition, strong local connections, and high-quality services.
